(live-PR.com) - Oil has been yo-yoing in price for the last couple of days presenting spread bettors with plenty of opportunities according to Paddy Power’s new financial spread betting venture,
paddypowertrader.com. The company has seen Irish spread bettors develop new strategies to reap the benefits from sharp rises and falls in the price of crude oil early this week.
“After oil hit
the heady heights of $147.25 dollars a barrel on July 2008 it looked like the rush for black gold was over. Yet,
paddypowertrader.com has watched the amount of spread bettors starting to move into oil multiply. With this new geopolitically motivated volatility there are again benefits for savvy spread bettors going long on peak oil. This activity has been affected by the price of crude oil, which resumed its rise as fighting between Russia and neighbouring Georgia sparked supply concerns. With oil now at $112.80 per barrel we have seen a 58% increase in the amount of money staked in oil on our books over the past week.” said Davin McAnaney, Commercial Manager of
paddypowertrader.com.
“Our clients seem very well informed when it comes to profit taking on international markets. Researching and informing yourself on the market conditions through blogging or online tutorials seems to be among the most popular ways of growing profits in financial spread betting. We have seen a significant 58% increase in the amount of investors going into oil since the beginning of August. Our seminar last month entitled “Is oil holding the world to ransom?” seems to have stimulated retail investors.” concluded McAnaney.
paddypowertrader.com launched in the summer of 2007 enabling clients to take advantage of the many benefits of financial spread betting, including being a tax–free alternative to trading shares and financial markets. The product continues to grow in popularity in the UK and Ireland, amongst not only financial industry professionals, but also amongst those with an interest in the stock market.
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Michelle Daly – 01 404 5900 / 087 952 9050 /
mdaly2@paddypower.com
